Although it had been occupied for over ten thousand years by indigenous peoples, from the 18th century onward, European powers considered the territory of Alaska ripe for exploitation and trade. The United States purchased Alaska from the Russian Empire on March 30, 1867, for 7.2million U.S. dollars at approximately two cents per acre ($4.74/km2). The area went through several administrative changes before becoming organized as a territory on May 11, 1912. It was admitted as the 49th state of the U.S. on January 3, 1959.